Crude prices plunge as supply worries eased

Crude prices plunged Friday as supply worries were eased on Cyclone Gonu.

Cyclone Gonu, which brought damage in energy producers Oman and Iran, was waning on Friday, according to weather forecast.

The storm did not reduce oil production from the ground during the week, but did delay shipments for several days, said analysts.

Light, sweet crude for July delivery was down 2.17 dollars to 64.76 dollars a barrel on the New York Mercantile Exchange.

London Brent Crude was down 2.45 dollars at 68.77 dollars a barrel.

Source: Xinhua